Market Tracker weekly round-up—24 November 2017

Weekly round-up of the latest corporate announcements, including takeovers of Sutton Harbour Holdings plc and of Servelec Group plc, IPO’s by Aberdeen Standard European Logistics Income plc and The City Pub Group plc, secondary offers by Accrol Group Holdings plc and Smart Metering Systems plc, delistings of Grand Group Investment plc and Northwest Investment Group Limited, LR/AIM Rules transactions by Hornby plc and Accrol Group Holdings plc.

The weekly round-up covers all deals announced from the Monday of the previous week until 12 noon on the Friday of the previous week. Any deals announced after this time will be included in the following day's round-up.

The information contained in the weekly round up is republished in the monthly round up at the end of the month. To access previous announcements please visit the Market Tracker section of the Corporate homepage.

Market Tracker—Statement of scope

New deals announced:

Delistings

Announcement date Delisting company Industry sector Key information
20 November 2017 Grand Group Investment plc Investment Grand Group Investment plc announced that pursuant to the application of AIM Rule 1, its shares will be cancelled on trading on AIM from 20 November 2017.
20 November 2017 Northwest Investment Group Limited Investment Grand Group Investment plc announced that pursuant to the application of AIM Rule 1, its shares will be cancelled on trading on AIM from 20 November 2017.

IPOs

Announcement date Issuer Industry sector Key information
20 November 2017 Aberdeen Standard European Logistics Income plc Investment Aberdeen Standard European Logistics Income announced that is has published a prospectus in connection with an initial public offering of its ordinary shares to the premium listing segment of the Official List of the FCA and to trading on the main market for listed securities of London Stock Exchange plc, and a subsequent placing programme.
The company is seeking to raise an initial target amount of £250 million (before expenses) via a placing and offer for subscription (including an intermediaries offer), with the ability to issue up to 500 million ordinary shares and/or C Shares in aggregate over the 12 months following launch pursuant to the placing programme (including shares issued pursuant to the Initial Issue).
20 November 2017 The City Pub Group plc Food & beverage The City Pub Group announced its proposed admission to trading on AIM and conditional placing of 20,588,236 new and 6,838,787 existing ordinary shares of 50p each at a price of 170 pence per share to raise gross proceeds of approximately £46.6 million.
The company intends to use the net proceeds of the placing to accelerate its acquisition strategy and expand its high quality estate of pubs.
Admission and commencement of dealings on AIM are expected to take place at 8.00 am on 23 November 2017.

LR/AIM Rules transactions

Announcement date Company Industry sector Key information
17 November 2017 Hornby plc Consumer products Hornby plc has announced a related party transaction under the AIM rules.
20 November 2017 Accrol Group Holdings plc Consumer products Accrol Group Holdings plc has announced a related party transaction under the AIM rules.

Secondary offers

Announcement date Issuer Industry sector Key information
24 November 2017 Smart Metering Systems plc Professional services Smart Metering Systems has announced a proposed conditional placing to raise gross proceeds of approximately £150 million to support future growth.
20 November 2017 Accrol Group Holdings plc Consumer products
Retail & wholesale trade
Accrol Group has announced  a proposed placing of £18 million, by way of a conditional placing of 36,000,000 new ordinary shares of £0.001 each in the capital of the Company at a price of 50 pence per share.
If approved by shareholders of the company the shares are expected to represent approximately 27.9% of the enlarged issued share capital of the company immediately following the admission to trading on AIM.

Takeovers

Announcement date Deal Industry sector Key information
23 November 2017 Sutton Harbour Holdings plc offer by FB Investors LLP Transport FB Investors announced a recommended contractual offer for Sutton Harbour. The offer is a partial cash offer to be made by FB Investors to acquire up to 67,393,960 Sutton Harbour Shares, representing 70% of the issued ordinary shares.The offer is an extension from a formal sale process announced by Sutton Harbour in 2016.
The partial offer value equates to £19.88 million.
23 November 2017 Servelec Group plc offer by Montagu Fund Computing & IT Montagu Fund announced, through its wholly owned subsidiary Scarlet Bidco Limited, a recommended cash offer for Servelec Group, by way of a scheme of arrangement.The offer value is £223.9 million.

Relevant Articles
Area of Interest